“How to enjoy December with R300?”
Right from the heading I’m sure a lot of you are reading this with the same thoughts I had. It really jumps out at you. But is it possible? Let’s see.
In my line of work, dealing with clients investment portfolios and needs at all levels, I am often tasked with being creative (for lack of a better term) in finding solutions for clients individual financial needs. Let’s put the acquiring of funds and securing credit aside, generally I help create savings plans for that wonderful trip to Morocco the clients wife has been talking about for years. And yes, before he takes you to Dubai ladies, he has probably had a conversation with me, he’s trusty wallet planner. I guess in a nutshell all I really do is help people look at money and spending in a new way.
“That’s all nice and gravy Khaya” I can hear you say, “but how does it allow me to enjoy December on my tight budget papa?!?” Fair enough, let’s look at a few factors:
January feels longer than the Israelites wandering the desert! You know that empty fridge and cupboard look. Yeah not cute!
Though COVID family meetings have given us restrictions on movement and number of people when we are out, we still want to be outside with other children enjoying our money! And December is usually the best time.
This is the time when expenditures like nails, Christmas gifts, blesser bottles and designer clothes seem the most appealing. Not to mention the lunches, braais, and small trips that come with it. Obviuuus!
All this makes for the easiest and quickest way to see your account sitting on R27 on the 4th of January. Hilarious, because we all know someone-who knows someone- who’s cousin’s brother friend always needs a “smallanyana loan mntase”, but not you right!
Luckily for you, gone are those days, because you’re reading this article that is so well written and with a wealth of knowledge that you will use immediately and change the course of your financial future forever! (I’ve always been one for bold claims)
PAY CLOSE ATTENTION!
The Secret: Look at your total money or income like a business would
Instead of looking at that R10 000 as all the money you have to spend, look at your use of money in percentages. What do I mean?! Let’s look at two lovely ladies both named Amanda. One we will call Poor Amanda and the other Rich Amanda. Of course this can be applied to Poor Benny and Rich Benny. Whether you are a student or a senior manager, this applies to you to.
E.g Poor Amanda gets paid R10 000. She goes and gets her nails done, buys the weave, spoils her loved ones and goes out on a few lunches. Whatever is left over(R700 or 7%) she saves. This is basic psychology. Except it becomes hard to track. And it is easy to over spend.
We all generally do this. We see the total amount as the money we can use and after everything then we “try” save what’s left. If at all before next payday. Poor Amanda like many of us always incurs more expenses a month and never really knows how much it all came to.